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ACROSS EUROPE , THE CONSENSUS IS FOR A PICKUP IN HOTEL TRANSACTIONS .
Contributed by STEFANI C . O ’ CONNOR
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The scrapped merger between Choice Hotels International and Wyndham Hotels & Resorts underscored the rather dark dynamics of M & A . In Europe , there is a brighter , albeit tempered transactions outlook , with hoteliers , private equity and other investors optimistic about getting deals done . “ Lots of deals are happening
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or have happened , which all appears to bode well for a more-animated 2024 ,” said Philip Camble , director of U . K . - based hospitality consultancy Whitebridge Hospitality . The 40-year industry veteran noted , however , many of the deals “ had long gestation periods ” ahead of finally closing .
According to this year ’ s HVS European Hotel Valuation Index , although hotel
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investment volume reached € 10.7 billion , there were 17 fewer transactions in 2023 than in 2022 , causing a 19 % yearover-year decrease in volume . Single-asset transaction volume decreased by 17 %, while portfolio transaction volume slumped 24 % last year , HVS data show . France and Spain were the market leaders , accounting for 44 % of the total European volume . |
May / June 2024 hotelsmag . com 71 |